Here is another deal I have on the table… The dealer was a little rude so am considering going elsewhere if anyone can match… What do you guys think about this deal? Again this is via credit union as they have higher residual and better MF than Toyota… Also Credit unions include GAP which Toyota doesnt like to tell you…
MSRP; $48,190
Discount: $5,119
Price: $43071
MF: .00139
Residual: 72%
36/12 $408 month (includes tax)
Dealer shows $428 but they are hiding $20 in payments somewhere because i calculated on the same exact site they use and its $408… I can handle this in finance…
I think it is a solid deal but need a second opinon
LONGG STORY but the but I was working the deal on ended up getting sold apparently. The salesmen doesn’t work tomorrow so I have to go in Wednesday to try and recreate the deal on a different unit.
This unit was white and I really wanted black anyways
Nice deal! Do everything you can to get whichever Tundra you choose contracted by Friday. The RVs change slightly on Saturday so the payment will increase a few bucks.
The dealer most likely wasn’t too happy because you are getting the buy rate and he isn’t marking it up. The 800+ Fico should be rewarded with the lowest payment. Did you see what this payment would be through TFS? Easily 30-40 more per month.
It’s all the same. You negotiate the sale price etc with the dealer and then they just will run the numbers through the credit union instead of Toyota Financial.
Generally dealers don’t want you to do this because they can’t mark up the credit unions rate.
My best advice is to work the deal and then let them know you want to go through the credit union. Sometimes the credit union has worse residuals than Toyota but in this case the credit union is better not only in the rate but also the residual.
Thanks for answering the previous question about the Credit Union. A couple follow up questions;
Do you simply just ask the dealer, "can I get numbers using the CU instead of TFS?"
Is there a way to know ahead of time which CU’s are available, and what their rates are?
It’s hard to know which dealers will use what credit unions but most will use any of the larger ones available pending what state you are in.
I know the credit union numbers in my state because all the dealers use CULA.com and that site is public domain so I am able to see the residual and MF prior to arriving to the dealer.
A lot of states use US bank also.
the best thing to do is call a couple of dealerships and ask if they will use a credit union for the deal. Then ask which ones they use.
Credit Unions have a specific charter that allows them to service in a specific designated area or to a specific designated group. Most CUs will have a list of counties that if you have to live, work or worship to use that credit union. There are some credit unions that are set up for specific employees of a company, union or government group. Some also have affiliated groups that you can join and then get access to the credit union.
In order to lease through a credit union, you first need to see if can join one of the few credit unions that have a leasing program. I work with about 20 or so credit unions that are leasing in a variety of states. You can PM me with your zip code and i can let you know if there are any CUs that you might qualify to lease through.
A dealer has to sign a contract with a credit union to start leasing with them. This is the same with all non-captive lenders.
For reference. Here is how much a different dealer quoted me on a similar unit ran through Toyota Financial because they said they didn’t do credit union leases… (I think they do though, the salesperson is just clueless… no surprise)
